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Industry
6,800 New Condo Units Changed To Rental, Cancelled, In Receivership Since 2022 Across GTHA
In the third quarter alone, three active condo projects totalling 1,111 units were converted to purpose-built rental, while eight projects totalling 2,231 units were put on hold, cancelled, or placed into receivership.
Oct 18, 2024
Construction
Inside The Cost-Profit Analysis Of Three-Bedroom Units In Metro Vancouver
Three-bedroom units are oftentimes essentially subsidized by the studio and one-bedroom units, developers say.
Renting
Roommate Rental Listings Up Nearly 50% Across Major Canadian Markets
“Vancouver and Toronto […] have experienced a notable increase in condo units where owners are subletting spare bedrooms. Additionally, condo investors in these cities are listing individual bedrooms within larger units, thereby offering lower asking rents to attract prospective tenants.”
Office
Westbank Sells M2 Office Building In Vancouver For $115M To Spear Street Capital
The M2 office building sits at 114 E 4th Avenue in Vancouver and is part of the ongoing Main Alley development by Westbank.
Luxurious Lawrence Park South Estate Boasts (Numerous) New Renos
Tucked away in a quiet corner of Lawrence Park South, this Tudor-style home offers a welcoming oasis, just around the bend from Yonge and Lawrence's best.
Real Estate News
Is This (Finally) The Bottom?
For more than two years, the GTA real estate market – from new builds to resale – has been on a downward trajectory. Has that finally changed?
Development Projects
Seven Years After $245M Sale, 1608 W Georgia In Vancouver Remains Dormant
The 1608-1616 W Georgia Street site in the West End of Vancouver was formerly home to a White Spot that was sold for $245 million in December 2017.
Finance
How The Numbers Behind Mortgage Switching Might Change Amid OSFI’s New Rules
Eliminating the stress test from renewals with a new lender not only makes things easier for borrowers, but facilitates more competition in the financial sector.
Policy
The Chair Of The Planning & Housing Committee On Toronto's Housing Crisis
Following an impromptu speech at last week's Committee meeting from Councillor Gord Perks, some in Toronto's development industry are up in arms over Perks' denial that fees and zoning are playing a role in the City's housing crisis.
Industry
65% Of Small Toronto Condos Are Owned By Investors
In light of Toronto and Vancouver's condominium conundrum, where prices for shoebox units remain high despite plummeting sales and rising inventory, StatsCan has released data demonstrating the role that investors may play in the issue.
Construction
High Interest Rates Resulted In 30,000 Fewer Housing Starts In 2023: CMHC
According to modeling by the CMHC, interest rates decreased housing starts by about 30,000 units, a decline of 10 to 15%.
Urbanity Fair
Digging In The Wrong Direction: How Ford’s 55 km Tunnel Misses The Mark For Ontario’s Future
Premier Doug Ford's proposal to build a 55 km-long underground highway tunnel raises serious concerns about the future of transportation and urban planning in Ontario, according to Urban Planner Naama Blonder.
Real Estate News
Why Developers See Penticton As The Okanagan Valley's Next Hotspot
Penticton, located south of Kelowna in the Okanagan Valley, has seen more and more interest from both buyers and developers in the past few years.
Construction
‘There’s Going To Be A Crisis’: New Condo Construction Is Heading Toward A Cliff
“This is not something where you can flick a switch and all of a sudden we have deliveries. We know that if we're not starting anything in ‘25, there are going to be no deliveries in ‘28.”
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